July 2, 2009
by Canadian Packaging Staff
Cargill has announced it will assume full ownership of NatureWorks LLC, as part of Teijin Limited’s general portfolio restructuring in response to the global economic downturn. Previously a 50-50 joint venture, NatureWorks is now an independent company wholly owned by Cargill.
NatureWorks, maker of Ingeo biobased plastics and resins derived from 100 per cent annually renewable resources, had operated as a Cargill-Teijin joint venture since October 2007
Teijin and Cargill officials indicated they are dissolving the joint venture in a friendly manner and intend to maintain close relations. The ownership transfer will not affect day-to-day operations at NatureWorks.